EGFA Abogados and Beccar Varela advise on the international issuance of additional Notes by Telecom Argentina S.A. for US$200,000,000
PRESS RELEASE
Ciudad Autónoma de Buenos Aires, August 15, 2025 — On July 29, having received offers totaling US$1,092,173,000, Telecom Argentina issued Additional Class 24 Notes in the aggregate principal amount of US$200,000,000. These Additional Notes are in addition to the Class 24 Notes issued on May 28 of this year in the aggregate principal amount of US$800,000,000, bearing a fixed annual nominal interest rate of 9.250%. As a result, the total outstanding principal amount of the Class 24 Notes (consisting of the Original Class 24 Notes together with the Additional Class 24 Notes) is US$1,000,000,000.
The Class 24 Notes will be amortized in two installments: the first on May 28, 2032, and the second on May 28, 2033, which will also be the maturity date.
On July 22, 2025, Fitch Ratings assigned a rating of “B/RR3” to the Class 24 Notes.
In this transaction, BBVA Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Santander US Capital Markets LLC acted as the international joint bookrunners, while Banco Santander Argentina S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Macro Securities S.A.U., Balanz Capital Valores S.A.U. and Latin Securities S.A. acted as local placement agents (collectively, the “Placement Agents”).
Legal counsel to Telecom Argentina S.A.:
- EGFA Abogados (local counsel), through partners Baruki González and Ximena Digón, and associates María Constanza Martella and Marina Galíndez.
- Cleary Gottlieb Steen & Hamilton LLP (U.S. counsel), through partner Juan G. Giráldez, and associates Carla Martini, Nicole Mueller and Ignacio Leguizamo.
Legal counsel to the Placement Agents:
- Beccar Varela (local counsel), through partner Luciana Denegri, and associates María Victoria Pavani, Sofía Gallo, María Carolina Pilchik and Martina Puntillo.
- Linklaters LLP (U.S. counsel), through partners Matt Poulter and Emilio Minvielle, and associates Madeleine Blehaut, Thomas Tiphaine –Koffman and Letícia Correia.